April 2017 - Page 2 of 2

What is (TDR)?

What is Transfer of Development Right (TDR)?

TDR is a virtual space that is given by the government to a land owner when his/her plot is reserved for public use, such as road, school, playground, hospital, etc. In exchange for giving up that land, the land owner gets virtual space (TDR) that is equivalent to the reserved area. TDR is tradable, and can be sold to builders, who can use it to add more floors on their projects.

The Proposal and its Impact

According to the proposed TDR usage laws, developers will not be allowed to use TDR in projects that are next to a road narrower than 9 meters.

Currently, the developers are allowed to use one TDR irrespective of the width of the roads; however, the government’s draft circular related to new rules said “Now, higher the width of the road, more the TDR to be used by the developers along with the available floor space index (FSI) of 1 for his project. If the road width is between 12m to 18m, then 0.75 TDR will be used. For the road width between 18m to 24m, one TDR will be uploaded. For road width between 24m-to-30m, 1.25 TDR can be uploaded. If the road width is more than 30m, the developer can use 1.50 TDR.”

Benefits of TDR program

The TDR program allows the landowners to separate the right of ownership of the land from the right of its development. Landowners benefit by being compensated for placing land use restrictions on their land, keeping farmland prices affordable for agricultural uses, and removing land uses that impede farming.

Local Governments can use TDR to direct development in specific zones. They can use this tool to preserve farming areas, forested areas, heritage areas etc. by allowing its owners to give up their rights to develop these spaces commercially in lieu of TDR. The public stands to gain, as private sector funds are used to purchase the development rights, thus avoiding large public expenditures. Farmland and environmentally sensitive areas are protected, and development occurs in suitable areas, resulting in more efficient public services.

Development Rights Certificate

A Development Rights Certificate (DRC) is a certificate issued by the Municipal Commissioner to individuals who are granted TDR. The certificate states that the FSI credit in square meter of the built-up area to which the owner or lessee of the reserved plot is entitled, the place and user zone in which the development rights are earned, and the areas in which they may be utilized. The property owner may use DRC for himself or transfer it to any other person.

How TDR can be a positive initiative?

Compensation to land owners to give their developmental rights should be market price based and not based on archaic and imaginary government registration prices.
The program must be equitable to all parts of a City, to ensure that uneven development does not happen.
TDR programs must be implemented synchronously with sound urban planning and zoning regulations, with streamlined land title registration, with right pricing for TDR, with an efficient trading mechanism for TDR and good communication.
The local Government cannot arbitrarily decide on TDR pricing based on end use. The process of TDR issuance and purchases should not be bureaucratic.
There ought to a well-planned communication to make people understand and buy into TDR programs. Private Banks and exchanges must be involved to drive the TDR program.
The fundamental principle of TDR is that the owner continues to own the land. But what Bangalore city did was misuse of this tool to take away the fundamental right of a citizen to hold on to his property. This must be stopped. TDR is not the only tool that is being used this way. Other acquisition tools such as ‘eminent use’ principles are also employed as legal instruments to rob people of their fundamental rights. This must be stopped.

According to the current law, properties can be acquired for road-widening only under TDR and TDR can be enforced only if the owner is willing. If he isn’t willing, the only option open to local government is to acquire the property under the state’s Land Acquisition Act. The TDR program allows landowners to separate the right of ownership of the land from the right of its development. TDR is granted only for prospective development and not for past developments. It is designed to steer growth, not to limit or stop development.

By admin|April 10th, 2017|What is (TDR)?|Comments Off

Transfer of Property Laws in Pune

Transfer of Property Laws….

Land is a subject falling within the powers of the State Governments under the Constitution of India 1 and hence, property laws in India may differ from State to State. Besides the local laws, several laws enacted by the Central Government also govern acquisition and ownership of property (including an interest in property) through purchase/sale, transfer, mortgage, inheritance or gift.

When a person acquires or owns an immovable property, the law also give him/her the right to use, lease, sell, rent or transfer/gift of the land. The owner also has a right to mortgage his immovable property as a security for loans. However, there are some laws which restrict the type of use a land can be put to, e.g., a land may be used only for residential or commercial purposes to prevent haphazard/unorganized growth of cities and towns. Laws in some of the States prevent/restrict outsiders from acquiring property within the State. Restrictions are also placed on non-agriculturists from acquiring agricultural land. There are also other laws which prescribe rules and regulations for protection of environment or which provide for approval of building plans/designs so as to protect people from natural or manmade hazards. Some laws like the Registration Act, 1908, also lay down provisions governing registration of property transactions so as to keep proper records of ownership of property in the public domain.

The Transfer of Property between any two parties is governed by the Transfer of Property Act, 1882. Both these parties need to be alive for transfer under the Act. In case of transfer of a property of a deceased person, Succession Laws as per the religion of the deceased will be applicable.

By admin|April 5th, 2017|Uncategorized|Comments Off

Formation / Registration of Co-operative Housing Societies in Pune

According to the Law, every Builder / Developer has to form a Housing Co-operative Society with limited options available in this regard to managing the affairs of the building i.e.

(a) Condominium
(b) Private Limited Company and
(c) Co-operative Society, (excluding the unrealistic rental housing),

It wouldn’t be an exaggeration to state that in at least 90% the Promoters and / or the Builders have formed a Housing Co-operative Society.
The basic requirements for a Co-operative Housing Society Registration normally are unknown to the flat/unit purchasers. It is the statutory obligation cast upon the builder, where the builder acts as a friend, philosopher, and guide of the promoters and helps them in forming a Co- operative Housing Society.

There are four types of Housing Co-operative Societies

(a) Open Plot type Societies [Tenant ownership]
(b) Flat Owners Societies [Tenant Co-partnership]
(c) Tenant Societies
(d) Housing Board Societies.

The procedure for Co-operative Housing Society Registration begins with electing a Chief Promoter in a meeting of the Promoters. The builder under the Flat Owners type of co-operative society has the first right to act as the chief promoter. The developer / flat purchasers should call for a meeting of the Promoters by issuing the notice under Agenda of the meeting given at least 14 days notice to the Promoters. In this meeting, a Chief Promoter is elected who can exercise such powers and carry out such functions as are mentioned in the minutes of the Promoters of the proposed Co-operative Society. After electing the Chief Promoter, the proposed name of the society has to be decided by the Promoters. Normally, the name reservation proposal should be accompanied by the signature of at least 10 Promoters who have attended the meeting. It is a common belief that the Society should consist of at least 10 members. If the number is less than 10 then special permission from Government has to be taken. In such cases, the garages/car parking may be allotted to other relatives of the promoter to reach a number of 10.

It would be of interest to note that the model bye-laws define flat as a Flat means a separate set and self-contained set of premises used or intended to be used or intended to be used for residence, or office or showroom, or shop, or godown and includes a garage, or dispensary, or consulting room, or clinic, or flour mill, the premises forming part of a building and includes an apartment. On allotment of name and permission to open a bank account by the Registrar, the Chief Promoter has to collect Share Capital, Entrance Fees from promoters and deposit the same in the branch of the bank permitted by the Registrar. It should be noted that the amount cannot be withdrawn from the Bank till the Society is Registered or its Registration is refused, except with prior written permission of the Registrar. The Chief Promoter should submit Registration Proposal to the Registering Authority within a period of 3 months from the date of issue of Letter of Reservation in the name of the proposed Society.

The documents that need to be submitted to the Registering Authorities for Housing Co-operative Society Registration are as under :

1. Application for registration of Housing Co-operative Society in Form A along with Statement A. Enclosure to application for Registration as per Rule 4(1) of Maharashtra Co-operative Societies Rules, 1961.
2. Information about proposed Housing Co-operative Society in Statement ‘B’ (vide Govt. Circular dated 2-5-1980).
3. Information about promoter members of the proposed Housing Co-operative Society in Statement ‘C’ (vide Govt. Circular dt. 2-5-1980).
4. A Statement of Accounts as per Form D.
5. Model Bye-laws.
6. Bank Balance Certificate.
7. S.B.I. / Treasury Challan for payment of Registration Fee of Rs. 2500
8. Title Clearance Certificate from an Advocate
9. A true copy of the approved Building Plan.
10. Letter of Authority Granting permission to commence construction work/Completion Certificate (if applicable).
11. Affidavit on Rs. 100/- Stamp Paper from at least 10 promoter members to the effect that they are residing in the area of operation of the Society (Proposed), made before a Competent Authority.
12. An affidavit from the Chief Promoter on Stamp Paper of Rs. 100/- executed before the Competent Authority in form ‘Y’.
13. Certified True Copy of an agreement made on Stamp paper and registered between the builder, promoter and purchasers of flat.
14. Where the promoter members are firms/ companies, a letter of authority from such firms/companies authorizing the promoter to sign on behalf of firm / company.
15. In the case of such proposed societies, names of 60% of the flat holders of the total number of flats constructed or proposed to be constructed as per the plan approved, must be included in Statement ‘A’ to be attached to the Registration Proposal. It is the duty of the Registrar to register the society and on registration of the society, it becomes a separate legal entity. Thereafter, the management of the affairs of the society is carried out by the managing committee which is elected by the general body meeting of the society. It may be of interest to note that in a co-operative society the principle is one member one vote. In a co-operative society, the right to be exercised in the general body meeting is a personal right. This is one of the reasons why even a person holding a power of attorney cannot attend the general body meeting of the society. The quantum of the capital being introduced by the member is not of much importance. Preference should be given to the formation of a private limited company if one member proposes to acquire the majority of flats in the building.

List of Documents for Deemed Conveyance as under

Resolution & Notice to Builder
Development Agreement
Power of Attorney
Layout Plan (Blueprint)
Commencement Certificate, if so
Completion Certificate, if so
7/12 Extract
Search Title Report
N.A. Order & U.L.C Order
Single copy of an Agreement (First Buyer)
All Index- II of all flats/shops
Architect Certificate of Area

Professional Charges & Expenses For Society Formation

1. 10 to 25 Flats – Rs.3,500/-per flat + Rs.20,000/- (Advocate Fee)
2. 26 to 50 Flats – Rs.3,500/-per flat
3. 51 to 100 Flats – Rs.3,000/-per flat
4. 101 to 200 Flats – Rs.2,500/-per flat
5. Above 200 Flats – Rs.2,000/-per flat

For More information please contact us:
Consultants for Housing Co-operative Society Registration in Pune / Housing Co-operative Society Formation in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By admin|April 5th, 2017|Uncategorized|Comments Off

Deemed Conveyance of Co-operative Housing Societies in Pune

Conveyance of a Property is transferring the Rights, Title, Interest and Ownership of a Property from the Seller to the buyer. In case of a Co- Operative Housing Society (formed by the Flat Purchasers/ Owners under the provisions of Maharashtra Co- Operative Societies Act, 1960), Conveyance is transferring the Rights, Title, Interest and Ownership of the Land and Building from the Land Owner/ Property Developer to the Co- Operative Housing Society.

We were already working on several cases of a similar kind under the provision of Maharashtra Ownership Flats Act, 1963(MOFA). Nearly 80% of the Co-operative Housing Societies had not received the Conveyance of land and building in their favour from the Builder. The amendments were to be carried out in the Maharashtra Ownership Flats Act, 1963 under the auspices of a Competent Authority to hear the grievances on Conveyance by the Societies or other legal bodies in 2005. The President of India gave the assent on February 25, 2008, and it became the Law of the Land.

In June 2008, the necessary notifications were issued by the Government of Maharashtra designating the District Deputy Registrars of the Co-operative Societies as the Competent Authorities under the MOFA even after a lapse of 18 months cases were accepted by the Competent Authority. Execution & Registration of Conveyance, Deemed Conveyance, Deeds & Agreements etc..

Deemed Conveyance is an Amendment under sub- section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963. The following will give you more clarity on what this is all about.

• Deemed Conveyance Amendment is applicable to the Societies that have not received Conveyance from the Land Owners & Property Developers
within 4 Months of their formation.
• The aggrieved Society shall make a Deemed Conveyance Application to the Competent Authority designated by Government of Maharashtra.
• The Deemed Conveyance Application of the Society shall include the Documents notified by Government of Maharashtra for Deemed
Conveyance.
• The Competent Authority shall hear the say of the Land Owners & Property Developers.
• The Competent Authority on satisfaction shall issue the Deemed Conveyance Order & Certificate in favour of the
Aggrieved Society.
• The Competent Authority shall execute the Deemed Conveyance Deed on behalf of the Defaulting Land Owners & Property Developers with the Aggrieved Society.

By admin|April 5th, 2017|Uncategorized|Comments Off

Deemed Conveyance Stages

Deemed Conveyance Stages

Conveyance of a Property is transferring the Rights, Title, Interest and Ownership of a Property from the Seller to the buyer. In case of a Co- Operative Housing Society (formed by the Flat Purchasers/ Owners under the provisions of Maharashtra Co- Operative Societies Act, 1960), Conveyance is transferring the Rights, Title, Interest and Ownership of the Land and Building from the Land Owner/ Property Developer to the Co- Operative Housing Society.

We were already working on several cases of a similar kind under the provision of Maharashtra Ownership Flats Act, 1963(MOFA). Nearly 80% of the Co-operative Housing Societies had not received the Conveyance of land and building in their favour from the Builder. The amendments were to be carried out in the Maharashtra Ownership Flats Act, 1963 under the auspices of a Competent Authority to hear the grievances on Conveyance by the Societies or other legal bodies in 2005. The President of India gave the assent on February 25, 2008, and it became the Law of the Land.

In June 2008, the necessary notifications were issued by the Government of Maharashtra designating the District Deputy Registrars of the Co-operative Societies as the Competent Authorities under the MOFA even after a lapse of 18 months cases were accepted by the Competent Authority. Execution & Registration of Conveyance, Deemed Conveyance, Deeds & Agreements etc..

Deemed Conveyance is an Amendment under sub- section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963. The following will give you more clarity on what this is all about.

• Deemed Conveyance Amendment is applicable to the Societies that have not received Conveyance from the Land Owners & Property Developers
within 4 Months of their formation.
• The aggrieved Society shall make a Deemed Conveyance Application to the Competent Authority designated by Government of Maharashtra.
• The Deemed Conveyance Application of the Society shall include the Documents notified by Government of Maharashtra for Deemed
Conveyance.
• The Competent Authority shall hear the say of the Land Owners & Property Developers.
• The Competent Authority on satisfaction shall issue the Deemed Conveyance Order & Certificate in favour of the
Aggrieved Society.
• The Competent Authority shall execute the Deemed Conveyance Deed on behalf of the Defaulting Land Owners & Property Developers with the Aggrieved Society.

List of Documents for Deemed Conveyance as under

Resolution & Notice to Builder
Development Agreement
Power of Attorney
Layout Plan (Blueprint)
Commencement Certificate, if so
Completion Certificate, if so
7/12 Extract
Search Title Report
N.A. Order & U.L.C Order
Single copy of an Agreement (First Buyer)
All Index- II of all flats/shops
Architect Certificate of Area
Society Registration Certificate

Professional Charges & Expenses For Deemed Conveyance

1. 10 to 25 Flats – Rs.3,500/-per flat + Rs.25,000/- (Advocate Fee)
2. 26 to 50 Flats – Rs.3,500/-per flat
3. 51 to 100 Flats – Rs.3,000/-per flat
4. 101 to 200 Flats – Rs.2,500/-per flat
5. Above 200 Flats – Rs.2,000/-per flat

For More information please contact us:
Advocates for Deemed Conveyance in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

Deemed Conveyance Stages

1^st Preparation for Deemed Conveyance:

In this stage the managing committee of Co-operative Housing Society needs to pass resolution to undergo deemed conveyance. A Special General Meeting is scheduled with prior notification and consent of all the members is obtained forgoing ahead with Deemed Conveyance.

During this Special General Meeting the following Resolutions passed by Society.

Resolution for going ahead with Deemed Conveyance
Resolution for Appointment of Authorized Representative
Resolution for Appointment of Legal Consultant for Deemed Conveyance
Resolution for Per Member Contributions against the Cost for Process of Deemed Conveyance

2^nd Documentation for Deemed Conveyance:

This is the most crucial step in obtaining deemed conveyance. It is a very meticulous job and makes sure all the documents are lined up serially as per the instruction of Competent Authority. You would require land revenue records, municipal corporation records, society records, property development records and professional certificates.

All these documents can be obtained from various departments such as Land revenue records from City Survey Office, Tahasildar/ Talathi Office & District Collector Office, municipal corporation records from Building Proposal Department of the Municipal Corporation. Society records and certificates can be obtained from society offices and professionals.

Once all the documents are lined up, society needs to fill in Deemed Conveyance Application- Form VII and attached all the related documents. In case of deemed conveyance, a legal notice is sent to the developer for their consent. In regular conveyance procedures, since the developers or promoters are willingly providing the rights lot of documents can be easily recovered from them.

Once the form is filled up and all documents are annexed it is submitted to the Competent Authority- The District Deputy Registrar of Co- Operative Societies of the particular District.

3^rd Legal Case for deemed conveyance:

Once the application is submitted to the authorities they issue Deemed Conveyance Scrutiny Report- Form VIII within 1 month. Once the compliance is provided the authorities issues Summons & Newspaper Notices to the Land Owners & Property Developers for appearing for the hearing.

During the hearing process authorities take into consideration the arguments of the both parties. The process takes place within 3-4 months. Once all the arguments are documented the office issues a Deemed Conveyance order within 1 month. The whole process is completed within 6 months as this is a time bound activity.

4th Registration of deemed conveyance:

A deemed conveyance deed is created during this phase and is signed by both societies and developers. If developers do not appear for hearing in the prior stage (Which is the case in deemed conveyance), authorities have the power to sign the deed on behalf of developers.

The society needs to conduct a meeting and appoint 3 members to sign the deed. Post that the deed is submitted to district stamp office for adjudication. If all the members have paid their stamp duty and if there is no balance FSI, the office issues adjudication certificate. (Note – Deed only requires Rs 100 stamp duty). The adjudication certificate needs to be then franked from local bank and resubmitted to registration office.

The registration office then issues notice to land owner/developer to verify if there is any stay order against the deed of conveyance. (Note – The developer can get the stay order only from high court). If there is no stay order the deed of deemed conveyance is registered and then the office issues scanned documents and Index II. This mark end of registration process and the society becomes the owner of the land and structure.

5th Transfer of property:

In this phase a new application is submitted to various departments to make mutation entries in their records. This would make the process complete.

By admin|April 3rd, 2017|Uncategorized|Comments Off

Conveyance, Deemed Conveyance of Co-operative Housing Societies in Pune

Conveyance, Deemed Conveyance of Co-operative Housing Societies

Conveyance of a Property is transferring the Rights, Title, Interest and Ownership of a Property from the Seller to the buyer. In case of a Co- Operative Housing Society (formed by the Flat Purchasers/ Owners under the provisions of Maharashtra Co- Operative Societies Act, 1960), Conveyance is transferring the Rights, Title, Interest and Ownership of the Land and Building from the Land Owner/ Property Developer to the Co- Operative Housing Society.

We were already working on several cases of a similar kind under the provision of Maharashtra Ownership Flats Act, 1963(MOFA). Nearly 80% of the Co-operative Housing Societies had not received the Conveyance of land and building in their favour from the Builder. The amendments were to be carried out in the Maharashtra Ownership Flats Act, 1963 under the auspices of a Competent Authority to hear the grievances on Conveyance by the Societies or other legal bodies in 2005. The President of India gave the assent on February 25, 2008, and it became the Law of the Land.

In June 2008, the necessary notifications were issued by the Government of Maharashtra designating the District Deputy Registrars of the Co-operative Societies as the Competent Authorities under the MOFA even after a lapse of 18 months cases were accepted by the Competent Authority. Execution & Registration of Conveyance, Deemed Conveyance, Deeds & Agreements etc..

Deemed Conveyance is an Amendment under sub- section (3) of section 11 of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963. The following will give you more clarity on what this is all about.

• Deemed Conveyance Amendment is applicable to the Societies that have not received Conveyance from the Land Owners & Property Developers
within 4 Months of their formation.
• The aggrieved Society shall make a Deemed Conveyance Application to the Competent Authority designated by Government of Maharashtra.
• The Deemed Conveyance Application of the Society shall include the Documents notified by Government of Maharashtra for Deemed
Conveyance.
• The Competent Authority shall hear the say of the Land Owners & Property Developers.
• The Competent Authority on satisfaction shall issue the Deemed Conveyance Order & Certificate in favour of the
Aggrieved Society.
• The Competent Authority shall execute the Deemed Conveyance Deed on behalf of the Defaulting Land Owners & Property Developers with the Aggrieved Society.

List of Documents for Deemed Conveyance as under

- Resolution & Notice to Builder

- Development Agreement

- Power of Attorney

- Layout Plan (Blueprint)

- Commencement Certificate, if so

- Completion Certificate, if so

- 7/12 Extract

- Search Title Report

- N.A. Order & U.L.C Order

- Single copy of an Agreement (First Buyer)

- All Index- II of all flats/shops

- Architect Certificate of Area

Society Registration Certificate

For More information please contact us:
Advocates for Deemed Conveyance in Pune
Ved Legal
Email: [email protected] / [email protected]
Mobile: +91 9763040088

By admin|April 1st, 2017|Uncategorized|Comments Off

what is the procedure to form a society

Formation / Registration of Co-operative Housing Societies

According to the Law, every Builder / Developer has to form a Housing Co-operative Society with limited options available in this regard to managing the affairs of the building i.e.

(a) Condominium
(b) Private Limited Company and
(c) Co-operative Society, (excluding the unrealistic rental housing),

It wouldn’t be an exaggeration to state that in at least 90% the Promoters and / or the Builders have formed a Housing Co-operative Society.
The basic requirements for a Co-operative Housing Society Registration normally are unknown to the flat/unit purchasers. It is the statutory obligation cast upon the builder, where the builder acts as a friend, philosopher, and guide of the promoters and helps them in forming a Co- operative Housing Society.

There are four types of Housing Co-operative Societies

(a) Open Plot type Societies [Tenant ownership]
(b) Flat Owners Societies [Tenant Co-partnership]
(c) Tenant Societies
(d) Housing Board Societies.

The procedure for Co-operative Housing Society Registration begins with electing a Chief Promoter in a meeting of the Promoters. The builder under the Flat Owners type of co-operative society has the first right to act as the chief promoter. The developer / flat purchasers should call for a meeting of the Promoters by issuing the notice under Agenda of the meeting given at least 14 days notice to the Promoters. In this meeting, a Chief Promoter is elected who can exercise such powers and carry out such functions as are mentioned in the minutes of the Promoters of the proposed Co-operative Society. After electing the Chief Promoter, the proposed name of the society has to be decided by the Promoters. Normally, the name reservation proposal should be accompanied by the signature of at least 10 Promoters who have attended the meeting. It is a common belief that the Society should consist of at least 10 members. If the number is less than 10 then special permission from Government has to be taken. In such cases, the garages/car parking may be allotted to other relatives of the promoter to reach a number of 10.

It would be of interest to note that the model bye-laws define flat as a Flat means a separate set and self-contained set of premises used or intended to be used or intended to be used for residence, or office or showroom, or shop, or godown and includes a garage, or dispensary, or consulting room, or clinic, or flour mill, the premises forming part of a building and includes an apartment. On allotment of name and permission to open a bank account by the Registrar, the Chief Promoter has to collect Share Capital, Entrance Fees from promoters and deposit the same in the branch of the bank permitted by the Registrar. It should be noted that the amount cannot be withdrawn from the Bank till the Society is Registered or its Registration is refused, except with prior written permission of the Registrar. The Chief Promoter should submit Registration Proposal to the Registering Authority within a period of 3 months from the date of issue of Letter of Reservation in the name of the proposed Society.

The documents that need to be submitted to the Registering Authorities for Housing Co-operative Society Registration are as under :

1. Application for registration of Housing Co-operative Society in Form A along with Statement A. Enclosure to application for Registration as per Rule 4(1) of Maharashtra Co-operative Societies Rules, 1961.
2. Information about proposed Housing Co-operative Society in Statement ‘B’ (vide Govt. Circular dated 2-5-1980).
3. Information about promoter members of the proposed Housing Co-operative Society in Statement ‘C’ (vide Govt. Circular dt. 2-5-1980).
4. A Statement of Accounts as per Form D.
5. Model Bye-laws.
6. Bank Balance Certificate.
7. S.B.I. / Treasury Challan for payment of Registration Fee of Rs. 2500
8. Title Clearance Certificate from an Advocate
9. A true copy of the approved Building Plan.
10. Letter of Authority Granting permission to commence construction work/Completion Certificate (if applicable).
11. Affidavit on Rs. 100/- Stamp Paper from at least 10 promoter members to the effect that they are residing in the area of operation of the Society (Proposed), made before a Competent Authority.
12. An affidavit from the Chief Promoter on Stamp Paper of Rs. 100/- executed before the Competent Authority in form ‘Y’.
13. Certified True Copy of an agreement made on Stamp paper and registered between the builder, promoter and purchasers of flat.
14. Where the promoter members are firms/ companies, a letter of authority from such firms/companies authorizing the promoter to sign on behalf of firm / company.
15. In the case of such proposed societies, names of 60% of the flat holders of the total number of flats constructed or proposed to be constructed as per the plan approved, must be included in Statement ‘A’ to be attached to the Registration Proposal. It is the duty of the Registrar to register the society and on registration of the society, it becomes a separate legal entity. Thereafter, the management of the affairs of the society is carried out by the managing committee which is elected by the general body meeting of the society. It may be of interest to note that in a co-operative society the principle is one member one vote. In a co-operative society, the right to be exercised in the general body meeting is a personal right. This is one of the reasons why even a person holding a power of attorney cannot attend the general body meeting of the society. The quantum of the capital being introduced by the member is not of much importance. Preference should be given to the formation of a private limited company if one member proposes to acquire the majority of flats in the building.

By admin|April 1st, 2017|Uncategorized|Comments Off

How to register society

A co-operative society is the perfect fit for a residential building as flat-owners have common needs (water connection, watchmen, etc) and interests (maintenance of common areas, such as the terrace and compound). If you’ve purchased a flat in a new building, it would probably be best if you took interest in forming a society. The builder may also be statutorily obligated to form a society. For example, under Maharashtra Flat Ownership Act, 1963, a builder must form a society within four months of selling 60% of the flats.

But you needn’t wait for the builder to form the society. In many states, including Delhi and Maharashtra, ten flat-owners are enough to promote a co-operative housing society. A building without a housing society usually indicates that there is a dispute between members or a general lack of interest. If you’re considering buying a house in a building where the society has not been formed, find out what the problem is. If the builder does not form a society, rights to the terrace and the compound continue to rest with him.

Here’s what you need to do register a housing society:

1) Submit an application for registration to the Registrar.

2) Along with the application, you need to submit the byelaws (see below) the society wishes to adopt and the names and occupations of the promoters of the co-operative.

3) Pay the registration fees. subject to a minimum of Rs100 and

4) The minutes of the meeting in which the byelaws were adopted.

Each housing society has a share capital, which will be paid up equally by the residents of the society, regardless of the size of the flat. Within six months of allotment, the member should receive a share certificate in this regard, according to the byelaws of Mumbai. Byelaws may also be amended by a resolution of its general body. All such amendments need to be approved by the registrar.

By admin|April 1st, 2017|Uncategorized|Comments Off

Co-operative Housing Society Registration,Maharashtra,Pune

Co-operative Housing Society Registration, Maharashtra, Pune

The Registration process and requirements are governed by Maharashtra State Co-operative Society Act 1960.

To Register Co-op. Housing Society, Minimum 10 member are required.

Less than 10 members Societies are also Registered as per M.S.Govt. Ordinance No. 1094 and 277/14 Dated 10/03/1995. But such member’s flats should be less than 700 Sq.ft. Carpet Area

As per M.S. Govt. Notification dated 24/07/1992 conditions for registrations Are liberalized.

1) 60 % of the Promoters are must be ready to form Co-op. Housing Society.

2) If flats are sold as per the Maharashtra Ownership Flats Act, 1963 [MOFA] then it is the duty of the Builder / Developer to form society and hand over the Account + Documents to Provisional Working Committee [PWC] In this case the builder become CP and other flat owners become Promoters for Registration purpose.

3) When the builder is not registering society due to some reasons or not support to registered society then flat purchasers can apply for registration of Co-operative Housing Society under Non Co-operation. In this case one of the flat owner should be elected as CP for Registration purpose. In this case some more time is taken to registered society as registrar is issue notice to builder for Non Co-operation. If no response then ex-party decision are taken for registration of the society. Now all the case of Non Co-operation Registration decisions is given by District Deputy Registrar [DDR] then society is registered.

4) All flat owners should hold meeting and elect Promoter. All power for Registrations, documentation etc. should be given to promoter. The resolution should be passed and must be sign by all flat owners who wish to become member of the Co-operative Housing Society.

5) Appoint Consultant / Legal Advocate for registration and ask him to comply all requirements. All members also can do work for registration.

6) For registration of Co-op. Hsg. Society the following documents should be filed to Dy. Registrar / Asst. Registrar Of Co-operative Department area concern in order as follow –

1) Applications for Name to be Reserved for Proposed Society’s

2) Form of resolution electing a CP and Promoter and giving them authority for doing certain acts on behalf of the proposed society

3) Application form “A” 4 copies

4) Information in Annexture ” A ” ” B ” ” C ” 4 copies

5) Bye-Law of the Society 2 copies

6) Details of Accounts Annexture ” D ” 2 copies

7) Bank Balance Certificate in Original 1 copy in Original

8) Agreement of Flat 1 copy

9) Advocate Search Report 2 copy [Title Certificate]

10) Society’s Building Plan 2 copies

11) Lay Out Plan 2 copies

12) Sanction Plan from Authority 2 copies

13) O.C / C.C copy 2 copies

14) Promoter’s Guarantee in form ” X ” On Rs. 100/- Stamp paper & notarized 1 copy

15) Guarantee in form ” Y ” On Rs. 100/- Stamp paper & notarized 1 copy

16) Guarantee in form ” Z ” On Rs. 100/- Stamp paper & notarized 1 copies

17) 7/12 or City Survey Revenue Record of Land [not more than 1 month old] 1 copy

18) Promoters Affidavit On Rs. 100/- Stamp paper & notarized 1 copy

19) Indemnity Bond On Rs. 100/- Stamp paper & notarized 1 copy

20) NA Certificate / ULC 2 copy

21) PlotareaLand Map 2 copies

22) Scheme

23) Registration Fee Challan for Rs.2500 1 copy original

24) Builder Non Co-operation form Z On Rs. 100/- Stamp paper & notarized if required 1 copy

25) CP Affidavit for Child Labour On Rs. 100/- Stamp paper & notarized 1 copy

All this forms are available at your District Co-operative Housing Society Federation.

On submission of above document the Dy./Asst. Registrar will go through the papers And document. If it found OK he will make order for issue of Registration Certificate.

If any deficiencies are found then the applicant will be inform accordingly and documents will be corrected wherever necessary. When all papers are in order, he will issue order for issue of Registration Certificate.

Registration Certificate is issued with covering letter and Officer’s name is mentioned who will attend First General Meeting. Normally the Officer concern is not attending meeting. In absence, all members has to hold meeting and has to elect Provisional Working Committee [PWC] whose working period will be ONE Year.

After electing PWC the member of PWC has to submitted the M-20 bond on Rs. 100/- stamp paper with the sign of Officer’s whose name is in Covering latter to Dy./Asst. Registrar. All Rule and Regulations, resolution and minutes which is written in AGM Register must be sign by Officer’s name is mentioned in covering letter it is the most important step [Many society forget this which creates problem in future]. After First Annual General Meeting PWC is replaced with new Working Committee [WC] whose working period will be FIVE Year. The new WC election can conduct before PWC time over with proper election process. WC also has to submitted the M-20 bond on Rs. 100/- stamp paper with the sign of election officer to Dy./Asst. Registrar

When application for Name reservation of Society has given , the Dy./Asst. Registrar give instruction to Open Bank Account in Dist. Central Co-op. Bank The Account has to opened in the name of CP And deposit all money of Share Capital Contribution [per member Share Money is Rs. 50*10 = Rs. 500 i.e. 10 share of 50 rupees each ] and Member ship Fees of Rs. 100/- i.e. Per member you have to deposit Rs. 600/- in bank and obtain Bank Balance Certificate and submitted it to Dy./Asst. Registrar. After First Annual General Body Meeting the Bank Account has to transfer in the name of Society. For bank Account operation Chairman sign must and either Secretary and Treasurer. Expenditure has to be made as per provision of Bye-Laws. Bank and Cash Transaction [Collection and Payment] are handled by Treasure when Billing Clerk or Accountant are not been kept.

By admin|April 1st, 2017|Uncategorized|Comments Off